Insider Selling: Intercontinental Exchange (NYSE:ICE) President Sells 400 Shares of Company Stock

Key Points

• ICE President Benjamin Jackson sold 400 shares at an average price of $177.90, worth $71,160, reducing his direct stake by 0.25%; he retained 156,532 shares.
• Intercontinental Exchange reported quarterly EPS of $2.02, beating the $1.97 consensus, while revenue rose 14.7% year over year to $3.63 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $189.25; ICE shares fell 1.0% to $172.28 in Friday midday trading.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) President Benjamin Jackson sold 400 shares of the firm's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $177.90, for a total value of $71,160.00. Following the transaction, the president directly owned 156,532 shares of the company's stock, valued at $27,847,042.80. The trade was a 0.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Benjamin Jackson also recently made the following trade(s):

• On Wednesday, November 4th, Benjamin Jackson sold 7,332 shares of Intercontinental Exchange stock. The shares were sold at an average price of $175.01, for a total transaction of $1,283,173.32.
• On Tuesday, September 1st, Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58.

Intercontinental Exchange Trading Down 1.0%

Shares of NYSE:ICE traded down $1.73 during midday trading on Friday, reaching $172.28. The company's stock had a trading volume of 2,685,083 shares, compared to its average volume of 3,772,203. The firm has a market cap of $96.28 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $177.94. The business has a 50 day moving average price of $158.44 and a 200 day moving average price of $154.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm posted $1.71 earnings per share. Intercontinental Exchange's revenue was up 14.7% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
• Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
• Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
• Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
• Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
• Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
• Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Intercontinental Exchange during the second quarter worth $6,245,085,000. State Street Corp increased its stake in Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider's stock valued at $3,196,758,000 after purchasing an additional 415,490 shares during the last quarter. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 16.1% during the second quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider's stock valued at $1,454,209,000 after purchasing an additional 1,634,385 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intercontinental Exchange by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider's stock worth $652,257,000 after purchasing an additional 52,910 shares during the period. Institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ICE. Jefferies Financial Group reduced their target price on shares of Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. Barclays raised their price target on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the company an "overweight" rating in a report on Friday, October 30th. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $180.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, October 30th. Argus lowered their price objective on Intercontinental Exchange from $190.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Finally, TD Cowen lifted their price objective on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a "hold" rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $189.25.

About Intercontinental Exchange

Intercontinental Exchange, Inc NYSE: ICE operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants.

Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.

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